| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 56th | Fair |
| Amenities | 6th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 Northern Pines Rd, Gansevoort, NY, 12831, US |
| Region / Metro | Gansevoort |
| Year of Construction | 2007 |
| Units | 36 |
| Transaction Date | 2004-11-10 |
| Transaction Price | $180,000 |
| Buyer | NORTHERN PINES HOUSING DEVEL. FUND CO INC |
| Seller | SPECIALE MARK C |
120 Northern Pines Rd, Gansevoort NY Multifamily
Neighborhood occupancy is among the strongest in the Albany–Schenectady–Troy metro, with this suburban pocket ranking 1 out of 295 neighborhoods, according to WDSuite’s CRE market data, supporting stable renter demand for a well-kept 2007 asset.
This suburban location in Gansevoort shows steady rental fundamentals at the neighborhood level, with occupancy ranking 1 of 295 metro neighborhoods — a signal of strong leasing stability relative to the region. Median contract rents track in the upper tier locally (ranked 22 of 295; top quintile) and sit in the 81st percentile nationally, indicating pricing power when product quality and unit mix are competitive, per WDSuite’s CRE market data.
The area’s housing stock skews newer than much of the metro: the subject’s 2007 vintage is materially newer than the neighborhood’s average construction year of 1969. For investors, a 2007 build typically reduces near-term capital expenditure exposure versus older stock, while leaving room for targeted upgrades to kitchens, baths, and common areas to drive rent premiums.
Within a 3-mile radius, WDSuite indicates double-digit growth over the past five years in both population and households, with households projected to expand further by 2028 as average household size edges lower. This points to a larger tenant base and durable demand for rental units, particularly for professionally managed, mid-size communities.
Income levels are comparatively strong: neighborhood median household income ranks in the upper quartile nationally (79th percentile), supporting rent coverage and retention. Home values are moderate by national standards (around the 63rd percentile), which can introduce some competition from ownership options; however, the rent-to-income ratio trends near the national mid-range, suggesting manageable affordability pressure and room for thoughtful lease management.
Amenities are limited in the immediate neighborhood — food, grocery, parks, and childcare locations rank at or near the bottom among 295 metro neighborhoods — consistent with a car-oriented suburban profile. Average school ratings trend below national mid-range, which may slightly narrow the family renter segment. Balancing these factors, the area remains competitive among Albany–Schenectady–Troy neighborhoods for workforce and lifestyle renters who prioritize larger floor plans and parking over walkable retail.
Regarding tenure, the neighborhood’s share of housing units that are renter-occupied is below half, indicating an owner-leaning area. For multifamily operators, that typically means less direct competition from large rental communities and a tenant base that values professionally managed options.
Comparable safety data at the neighborhood level is not published in this dataset. Investors should benchmark trends against nearby Albany–Schenectady–Troy submarkets using multiple sources and time horizons to understand relative performance rather than block-level conditions.
Practical underwriting considerations include reviewing recent police blotter summaries, speaking with property management about incident trends, and comparing insurance quotes year over year to gauge directional risk. Frame conclusions in metro context to assess whether conditions align with competitive suburban neighborhoods.
Employment access is anchored by regional corporate offices that support commuter demand and leasing stability, notably in healthcare distribution and technology.
- McKesson — healthcare distribution (12.3 miles)
- IBM — technology & services (35.4 miles)
Built in 2007, this 36-unit community offers a relatively newer vintage versus much of the surrounding housing stock, reducing near-term capital needs while leaving room for targeted value-add. Neighborhood-level occupancy ranks first among 295 metro neighborhoods, a strong indicator of leasing durability. Rents position in the metro’s upper tier and the national 81st percentile, while incomes trend in the national upper quartile — a combination that supports rent coverage and measured growth, based on commercial real estate analysis from WDSuite.
Within a 3-mile radius, households have expanded meaningfully and are projected to continue rising as average household size declines, implying a larger renter pool and support for occupancy stability. Offsetting factors include limited immediate-walk amenity density and home values that are not prohibitively high, which can introduce some competition from ownership; disciplined amenity programming, parking, and larger unit layouts can help sustain absorption and retention.
- 2007 vintage reduces short-term capex risk with selective renovation upside
- Neighborhood occupancy ranks 1 of 295 metro neighborhoods, signaling strong leasing stability
- Upper-quartile incomes and top-quintile rents support coverage and pricing power
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: limited nearby amenities and accessible ownership options may temper rent premiums